Pepe Coin Price held firm on Wednesday, as Bitcoin slipped below the $75,000 mark. PEPE traded at $0.00000359 after gaining 0.80% in 24 hours. The move showed mild strength while the broader crypto market weakened.
The move was PEPE’s small win amid broad-based sell-offs in the meme coin class. Bitcoin price dropped 2.45% to $74,971, while the total crypto market fell 2% to $2.52 trillion. The downside was driven by poor risk sentiment, new ETF outflows and geopolitics amid the Iran-U.S. peace process.
Whale Long Position Supports PEPE Momentum
Whale activity attracted investor attention as two connected wallets opened massive leveraged long trades on PEPE. Investor attention turned to whale activity when two connected wallets opened up huge leveraged long trades on PEPE.
In spite of the overall weakness, the PEPE received a fresh spotlight from big traders. According to on-chain data, two wallets, probably managed by one whale, bought 10 times more long positions.
A whale is going long on $PEPE.
Two wallets, likely belonging to the same whale, opened 10x longs on 1.31B $kPEPE($4.62M) over the past 3 hours.https://t.co/ltTcwQQaAOhttps://t.co/uq0P4GuOgG pic.twitter.com/21EUwP1LBr
— Lookonchain (@lookonchain) May 27, 2026
The trades covered 1.31 billion kPEPE, worth around $4.62 million. This was an indicator of the high short-term confidence level and direct buy-side support.
Bitcoin ETF Outflows Remain The Key Market Risk
The overall market continues to sell down. Bitcoin spot ETFs saw $334 million in net outflows, according to SoSoValue data on May 26.
This was the seventh consecutive day of withdrawals. Spot ETFs for Ethereum also saw withdrawals of $35.03 million, continuing an 11-day losing streak.
According to SoSoValue data, on May 26 (Eastern Time), Bitcoin spot ETFs recorded a total net outflow of USD 334 million, marking seven consecutive days of net outflows. Ethereum spot ETFs recorded a total net outflow of USD 35.0383 million, marking 11 consecutive days of net… pic.twitter.com/joIDYuMU2R
— Wu Blockchain (@WuBlockchain) May 27, 2026
The short-term trend for PEPE could depend on Bitcoin. Any price above the $75k-$76k price range may lead to relief buying. If so, future Bitcoin outlook could surge back to $78,500, and continue the rally for PEPE.
Bitcoin dips below the support level may pull the currency towards $73,000 and continue to push meme coins lower. If Bitcoin breaks below the support level, it may continue towards $73,000 and push meme coins further.
Will Pepe coin Price Recover as Buyers Defend $0.00000350?
The PEPE price is currently trading at $0.00000356 on the four-hour chart with mild weakness near short-term support,
The MACD stays below the zero line which indicates that bearish pressure is not completely wiped out. The MACD lines have been declining but are now leveling off. That’s an indication that momentum selling may be the slowdown.
The Chaikin Money Flow is currently close to 0.09, indicating light money inflows.
Recent selling pressure has brought PEPE to the $0.00000350 support zone. This level is still significant for short time traders. Any further decline will undermine the ongoing recovery effort.
The chart shows PEPE rejected higher levels near $0.00000380 earlier this week. This area is now the first resistance. A clear move above $0.00000380 could open the path toward $0.00000400 as per full PEPE forecast report.
The negative side is that $0.00000350 is the primary support level to be considered. If sellers break this level, PEPE could fall toward $0.00000340. Another correction can then reveal the $0.00000330 range.
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